Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

54
Posts
6
Votes
Chris Silvas
  • CPA
  • Houston , TX
6
Votes |
54
Posts

Sub2 a house that's in bankruptcy?

Chris Silvas
  • CPA
  • Houston , TX
Posted

Came across a pretty sweet situation for a sub2. But he's in Ch.13 bankruptcy and so is the house. His attorney says he can sell at any time (not sure what would happen to any proceeds he would receive). Can I essentially have the property deeded to me like a regular sub2 deal, or does the bankruptcy break this deal? P.S. I completely understand I need to speak with a RE attorney and that nobody on here is "giving legal advice". I just want general thoughts or possibly anyone who has had experience with this situation. 

Scenario:

- Owner doesn't want anything but to be relieved of the pmt

- Equity about 17% 

- Payment $1500

- Potential Rent $1750

- ARV $190K

- Repairs $3.5k

- Arrearages $10k

- Loan Balance $145k

Thanks in advance BP community. 

Loading replies...